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EC401 Economics and Finance

DESCRIPTION

This unit provides perspective and understanding of the key economic principles used to measure business performance. It aims to provide students an opportunity to apply demand and supply concepts to analyse the real-world business management situation of a given industry. It will allow them to understand market structure of that sector and will equip students with an understanding of production and pricing strategies required for profitable businesses.


RELEVANT COURSES

Master of Business Administration*

Graduate Diploma of Business Administration*

Graduate Certificate in Business Administration*


*Core unit


CREDIT POINTS

10


DELIVERY MODE

On campus


PREREQUISITE OR CO-REQUISITE

Nil


UNIT LEARNING OUTCOMES

LO1 Demonstrate and apply an understanding of principles of production and costs relationships and efficient allocation of resources

LO2 Reflect critically on demand and supply relationship and the factors affecting market equilibrium

LO3 Understand and utilise the economic concepts in the analysis of a given market and apply the learning to financial management approaches

LO4 Evaluate risk mitigation strategies and factors influencing investment decisions making and cost benefits analysis using financial risk management

LO5 Discuss the role of international trade in a chosen sector and analyse how exchange rates affect international trade and competitiveness within that sector


CONTENT

  • The economics of production and uncertainty

  • Consumer choices, markets and distribution, utility maximisation and demand

  • Demand and supply

  • Market structure: Characteristics of perfect and imperfect markets and real-world applications

  • Business management, financial decisions, and investment strategies

  • Capital investment and financing models

  • Risk management strategies

  • Government policy and real-world markets: Macro and micro economic policies of a chosen sector

  • Globalisation, international trade, and trade agreements

  • Sustainable development and the environment


ASSESSMENT METHODS

1. Quizzes - 20%

2. Multimedia Project - 30%

3. Case Study and Oral Presentation - 50%


PRESCRIBED READINGS

Nil


Check with the lecturer each semester before purchasing any textbooks

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